WASHINGTON – Today, Administrator Linda McMahon and the U.S. Small Business Administration’s (SBA) Office of International Trade honored Regions Bank and 44 Business Capital, a division of Berkshire Bank, as the 2019 SBA Export Lenders of the Year at the 12th annual SBA Export Lenders’ Roundtable. During the event, both lenders were recognized for their efforts to increase access to capital for U.S. companies providing international trade financing to small businesses.
“It is my pleasure to recognize the SBA’s 2019 Export Lenders of the Year: Regions Bank and 44 Business Capital, a division of Berkshire Bank. The export financing provided by our lender partners plays a pivotal role in helping small businesses compete and succeed in the global market. In fact, small businesses that export grow faster, pay higher wages and have greater economic stability,” said SBA Administrator Linda McMahon. “The Trump Administration and the SBA are committed to ensuring equal access for small businesses to international markets, expanding export opportunities, and reducing or eliminating trade and investment barriers that disproportionately impact small businesses.”
Regions Bank Vice Presidents Yareny C. Camacho and Thomas Matthias, accepted the award for large lending institutions on behalf of Regions Bank. Regions is a member of the S&P 500 Index and the 16th largest full-service bank in the nation. Regions’ franchise spans across the South, Midwest and the state of Texas. As part of Regions’ strategy to provide solutions to help support the working capital needs of U.S. exporters, Regions added SBA’s Export Working Capital Guarantee Product (EWCP) to its suite of Global Trade solutions in 2016. As a result, Regions generated $15 million in lending support utilizing SBA’s EWCP Program in 2018.
Berkshire Bank is recognized for its entrepreneurial approach, customer relations and distinctive culture. Berkshire Senior Vice President Greg Poehlmann accepted the award for small lending institution on its behalf. Berkshire provides business and consumer banking, mortgage, wealth management, investment and insurance services through 113 full-service branch offices throughout New York, Connecticut, Vermont, New Jersey, Pennsylvania, and Massachusetts, including Commerce Bank, a division of Berkshire Bank. Berkshire Hills Bancorp is the parent of Berkshire Bank.
Berkshire Bank has originated over $500 million in SBA 7(a) loans in the past nine years and is the nation’s leading SBA Export Express Lender which supported 12 small business exporters in fiscal year 2018 with $12.8 million in export lending.
U.S. exports are important to the nation’s economy, and 98 percent of all exporters are small businesses. During fiscal year 2018, the SBA guaranteed $1.14 billion in financing to small business exporters.
The SBA Export Lenders’ Roundtable is an annual event sponsored by the SBA’s Office of International Trade. The event brings together lenders, trade financiers, and trade industry professionals to hear from speakers on topics such as trade promotion, the global economic outlook, developments in trade finance, and SBA’s export financing programs. It also highlights the accomplishments of lenders in delivering SBA’s international finance programs to small businesses, which are designed to help small businesses develop new markets, finance export transactions, and expand capacity to meet overseas demand.
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.